In Designing Substantive Audit Procedures for Tests of Transactions for Sales

question 78

Essay

In designing substantive audit procedures for tests of transactions for sales the auditor needs to test for evidence of misstatements due to errors or fraud.Describe at least 2 potential errors (unintentional)and at least 1 intentional (fraud).

---

Definitions:

Serving Others

An act or series of actions done for the benefit of other people, often highlighting selflessness and empathy.

Leadership Traits

The distinctive characteristics or qualities that are considered conducive to effective leadership, such as integrity, determination, and empathy.

Cognitive Ability

The capacity of the brain to process information, reason, remember, and relate objects and concepts.

Physical Traits

Characteristics that are observable and measurable, mainly pertaining to the body.